Deep-South Resources Inc CVE:DSM) has said its Namibian legal counsel, on behalf of its subsidiary Haib Minerals, has filed a review application with the High Court of Namibia following the licence renewal refusal for its copper project in the country.
Recovering the rights of Haib Copper project remains the number one priority for Deep-South, however, the company added that it was actively looking at other projects before the situation arose with the Haib licence.
Deep-South said it believes it is important to carry on with the development of the company and start again adding value for shareholders. The base metal-focused company said it has a team that is currently evaluating projects, and has identified copper and gold exploration projects that have the potential for world-class discoveries and resources.
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The company said the application to the High Court of Namibia seeks to review the previously reported renewal refusal for licence EPL 3140 covering the Haib Copper project. The application also seeks an urgent interdict to prevent the Ministry of Mines and Energy of Namibia from granting a licence over the same area to anyone else.
Deep-South asserts that the Ministry was kept well apprised, with no objection on their part, of a proposed change from the Pre-Feasibility (PFS) study to an upgraded Preliminary Economic Assessment (PEA) and the commencement of a full Feasibility Study (FS). The company noted that the FS was already commenced with at the time of the refusal.
Lastly, Deep-South said, the Ministry issued all permits required for the drilling program and officials were well aware that Haib had completed the drilling program at the time of the refusal to renew.
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